July 2019 International Tax Update #FATCA #TFFAAA

July 2019 International Tax Update #FATCA #TFFAAA

Global Advocate for the American Overseas and Tax Attorney John Richardson join Anthony E. Parent to discuss the following important updates for any US expat concerned about tax compliance, tax reform, The Foreign Account Tax Compliance Act (FATCA), and the proposed Tax Fairness for Americans Abroad Act (TFFAAA) In this video we discuss: 1. Overall status of the TFFAAA bill: The bill is intact. The plan it to reintroduce it, with a Democrat sponsor. The good news is mot Democrat organization that represent Americans overseas are no on board with the bill. 2. GILTI/transition tax/TTFI updates: Enhanced Section 911 exclusions - the TFFAAA does not end citizenship based taxation, however it does greatly limit it and that is a great start. 3. The US Treasury got creative to limit GILTI taxes so that there is essential no GILTI due if taxpayers lives in country where tax rate is above 18.1%. 4. Form 3520-AForm 3520: tapxayers are leanrign the perils of over filing. Attorneys Richardson and Parent discuss why overfiling is a real bad idea. 5. Litigation updates: We discuss the Accidental Americans in France and other litigation and pushback in Europe along with updates from Canada. For help withyour international tax problem contact https://ift.tt/1RfwK1f Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269-6699 https://youtu.be/AOyM_9gCaVw IRS Medic

Should I Claim 99 Deductions

Should I Claim 99 Deductions

Do you get tired of the federal government gouging you paycheck after paycheck - especially if you work a lot of overtime, you might be really tempted to claim 99 deductions on your W-4. But should you? Are there downsides? Today I am going to tell you the real life story of one of our clients who made the mistake of the lifetime by claiming 99 deductions - and I will tell you what she could have done to limit the risk she created. https://youtu.be/pr3R_FZ385s IRS Medic

I Owe the IRS Should I File

I Owe the IRS Should I File

I owe the IRS - should I bother filing my taxes? Today we take a look at a common problem that happens to business owners and taxpayers -- finding out they owe more money than they expected to the IRS. This could be the year, you prepare your taxes and maybe you made more money or you didn’t put aside enough. Maybe this is the first year you are self-employed and learned about the horrors of self-employment taxes. Regardless like millions of other Americans and you are now facing the fact that you are little bit short of money for the IRS and wonder if you can buy some time if you don’t file your tax return. So should you? Can You can buy time by not filing your tax return? https://youtu.be/kjR0s0TdQAM IRS Medic

Tax Deductions verse Tax Credits: Which is Better

Tax Deductions verse Tax Credits: Which is Better

If something is to be done in this country, chances are it will involve the tax code. What do I mean? If you want more people to use public transportation, we don’t make driving car illegal, we make it expensive with punitive taxes.And then we create steep discounts and give huge incentives to public transportation via tax subsidies. And voila - Now we have public transportation few people actually want, but boy does it make for great press releases and complicated tax returns. This type of Approach is so American — We don’t seem to be able to do anything directly, but rather are obsessed with the passive aggressive machinations of the tax code. Which could be the primary explanation of why the income tax is a such a mess — Americans fully demand it!Now in order to execute this delightful Tyranny over everyone’s life, the primary tools the tax code uses are tax deductions and tax credits. So what’s the difference? Which one is better? https://youtu.be/V0o05KSFXMo IRS Medic

Self Employment Tax Deductions

Self Employment Tax Deductions

https://youtu.be/okVJNOcj6Zo IRS Medic

Live: GILTI Relief with Monte Silver

Live: GILTI Relief with Monte Silver

https://youtu.be/GV_z1FJJnJI IRS Medic

Live: Ryan Socash shares his experiences with IRSMedic

Live: Ryan Socash shares his experiences with IRSMedic

Ryan Socash https://youtu.be/SOTwfhNUL8w IRS Medic